Economic data released by the Central Bureau of Statistics on Tuesday were not strong enough to shore up the currency, analysts said.
Export performance remained weak despite a surplus of US$69.9 million in May.
The market players doubted that the surplus could be maintained in the coming months, Monex Investindo Futures analyst Zulfirman Basir said here on Wednesday.
The condition could have dampen expectation of improvement in the countrys current account deficit, Zulfirman said.
In addition, investors looked more cautious ahead of the presidential elections on July 9, he said, adding surveys showed the presidential race is tighter.
However, the fact that inflation is well under control and the manufacturing activities are brisker, gave rise to hope for improvement, he said.
(Uu.H-ASG/A014)
Editor: Priyambodo RH
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